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Riley Resources Corp.
Summary
| Project: | East Manhattan Wash | |
|---|---|---|
| Deposit: | East Manhattan Wash | |
| Location: | United States | |
| Commodities: | Gold-Silver | |
| Date: | 3/1/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 1-3-2017: Riley Resources Corp. announces a Supporting Acquisition report for its East Manhattan Wash deposit at the East Manhattan Wash project. Summary of property in support of acquisition. The East Manhattan Wash Project is an early-stage precious met | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Charles E. Sulfrian (ZyMin Corp.) | |
| ABSTRACT: | The East Manhattan Wash Project is an early-stage precious metals property located in Nye County, Nevada. The property has a geologic setting similar to active mines, historic deposits, and active exploration projects in the area. MSM Resources LLC (MSM) controls the East Manhattan Wash Project (the “Project”) which currently consists of six (6) owned, unpatented lode mining claims (the “Property”). For Riley to exercise its purchase option under the Agreement, Riley must, in addition to the above, pay an additional lump sum payment of $200,000; upon which payment, Riley will acquire all of MSM’s rights, title, and interest in the Project. The 3% NSR royalty will still apply. The property position is located within Section 24, Township 08 North, Range 44 East, Mount Diablo Base and Meridian. No mineral resource or reserve has been identified on the East Manhattan Wash Project properties. While the results of past exploration programs have been mixed, there remain untested quality exploration targets. Better understanding of the project geology and mineralizing systems in Charles Sulfrian, CPG #11188 - 2 - ZyMin Corporation the district suggest that early exploration efforts at East Manhattan Wash did not test all of the best targets; therefore, additional mapping, sampling, geophysical surveys, and drilling appear warranted at the primary stage East Manhattan Wash Project. A detailed mapping and rock sampling program should be coupled with re-logging of existing core. Additionally, all of the core should be assayed or re-assayed. Geophysical work also appears warranted to help finalize targets for a short program of core drilling during the latter portion of the first phase of exploration. Ground magnetic and gravity surveys are recommended to proceed during or after the mapping and rock sampling is complete. Together with proposed mapping and sampling efforts, the geophysical work will help finalize drill targets to be tested. Drilling would be entirely dependent on results from the above recommended field work rather than drilling performed by previous operators. | |
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